Dubai's bourse climbed to a four-month high on Wednesday, as hopes of strong earnings and rising European stocks lifted sentiment, and Egypt's market extended a rally on optimism about the political environment.
Dubai's real estate stocks led the rally, helping the emirate's bourse gain 1.2 percent to end at its highest close since Sept 22.
"There is a belief that blue chips real estate firms like Emaar will report good fourth-quarter results," said Saad al-Chalabi, technical analyst and trader at Al Ramz Securities in Abu Dhabi.
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